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SMI5 Question
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SMI5 Question

 
Elite Member
Toronto, ON
 
Futures Experience: Beginner
Platform: NinjaTrader
 
Posts: 99 since Sep 2009
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SMI5 Question

Please can someone refer me to how to use SMI5? We have over bought / very over bought and over sold and very over sold. Probably a novice questions then is when to trade?

Thank you

 
 
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eone View Post
Please can someone refer me to how to use SMI5? We have over bought / very over bought and over sold and very over sold. Probably a novice questions then is when to trade?

Thank you

in between

 
 
Elite Member
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Is it ... For buy - between over bought and very over bought i.e. 20 and 80?
For sell - between over sold and very sold i.e. -20 and -80?

 
 
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Big Mike's Avatar
 
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As with all oscillators, they tend to be useful during ranging markets, and not useful during trending markets.

So assuming you have identified only ranging periods of the market, then you are probably looking for times when the oscillator crosses up above 20 or or perhaps 50 for longs, and crosses down below 80 or perhaps 50 for shorts.

For trending days, oscillators will not work well or at the very least cannot be used in the same fashion.

Mike

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Big Mike's Avatar
 
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Also, you will probably receive more responses and feedback in this thread:

https://futures.io/journals-daily-charts-tape-reading/2662-wizards-den-holy-grail-ii.html

As TheWizard and many others specifically use SMI in their trading.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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Hey everyone! Is there a place where I can download the SMI5 indicator? I've found SMI helpful, but I'd like the background to change with the histogram, not the crossover. Also, any thoughts on the best way to use the SMI in general? Thanks a bunch!

 
 
Site Administrator
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Southsea View Post
Hey everyone! Is there a place where I can download the SMI5 indicator? I've found SMI helpful, but I'd like the background to change with the histogram, not the crossover. Also, any thoughts on the best way to use the SMI in general? Thanks a bunch!

View Download Details - Big Mike's Day Trading Forum

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:

 



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